Fee Fi Foe , FXE FXF

Posted on Oct 10, 2011 by in Letters

You could just as well use eeny meeny miny more with these markets, but the trend line is broken in the euro with a power bar and a gap.  It does seem about time for a rally in the euro.  But traders who depend on a grand bargain to be struck with Angela and Sarko may find they have been fooled again.  But that is the essence of trading.  Venture a little, get your head handed to you, venture some more and you wind up like Paulson  (the good Paulson, not the evil Paulson).  Ever eager to kick Lucie’s football we will put a few small chips on it.

Want to mess with the Swiss?  Here’s your chance.  Broken line and gap.  And the Switzers hiding in their tunnels with their howitzers waiting for an assault on their currency.  It is amazing that they managed to drive it down so far.  Radically oversold.  But that doesn’t mean they will welcome your enthusiasm for their money.  So, trades for the adventuresome.

So don’t feel boring if it’s not for you.  Prudence is the greatest of all virtues.  Epictetus said that, didn’t he?

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